Simon Burmingham, the Minister for Education and Training this week announced sweeping changes to the VET FEE HELP sector.
There is lots being written about the specific, but in short, the amount a student can borrow for a course has been reduced. Depending on the course, it could be as little as $5000 going up to a maximum of $15,000.
Training organisations are able to charge more, but students will no longer be able to fund the additional fees via the VET FEE HELP scheme. It is hoped this will draw an end to the sky rocketing cost of training in the VET sector.
Minister Burmingham has also made changes to the courses that are eligible for funding with some 478 courses slated to be removed. You can see the full list here.
The Department is calling for feedback on the proposed changes and at OTrain we’re encouraging everyone to review their own courses and structures and to provide feedback that will influence the final outcome. Remember, if you’re not part of the conversation, you can’t be too upset when the results don’t fall your way.
You can have your say by providing feedback to VETStudentLoans@education.gov.au. Feedback must be received by 23 October 2016 and contain the subject line ‘Feedback on the eligible course list’.
There are Fact Sheets and a list of eligible courses available here.
Whilst these changes have been designed to drive out the dodgy operators, they will no doubt have a significant impact on organisations doing the right thing, but reliant on VET FEE HELP and the current pricing model to survive. If this is you, it may be time to revisit your delivery model and consider Online Training as part of the mix.
With delivery time typically being reduced by 2/3’s, and delivery costs reduced by up to 85c in the $, it really is worth considering online as part of a blended solution.
It costs nothing to have a conversation, so send your feedback to the minister then give us a call here at OTrain on 07 3040 3310.